charged off credit card

Hello, I had a Credit One credit card that written as a charge off back in 2007. Within the last month, I received calls from an aggressive collection agency regarding my debt complete with new charges and fees added to the original balance not stated on my credit report. I also looked at my report regarding the card and the file has been updated as of 9/2008 as 'bad debt, placed for collection'. as of 9/2008. Does this happen often? What is more responsibility regarding this debt? I know I'm legally liable up to seven years. By the way, the agent won't give me any offers until I agree to make payments. I know I was irresponsible but I'm trying to figure out what my best options are.

Re: charged off credit card

You are legally responsible until you pay the debt or file bankruptcy. 7 years is the limit it can be reported, but this does not extinguish nor relieve the debt. The creditor can attempt to collect forever, they just lose the ability to use the courts for enforcement after SOL expires and the ability to report against your credit after the 7 years from DOFD.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair
organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or
assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.